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U.S. Hit with 90% of the World's Disaster Costs in 2012

Jan 7, 2013
(E&E Daily, sub req'd)

The United States led the world in disaster losses last year as a massive drought seared Midwestern crops in the field and as superstorm-driven waves wreaked havoc and blackouts along the East Coast. They added up to one of the most expensive weather damage years on record.

Nearly all the world's economic damage from storms, drought, fire and earthquakes was centered in the United States as it experienced the highest temperatures ever recorded, according to Munich Re, a global reinsurance company. More than 90 percent of insured losses worldwide occurred in the United States, well above the 30-year average of 65 percent.